Founded After Forty

How to start a business when you haven't got time to waste

Glenda Shawley

A practical and inspirational guide to starting a business at a point in life where you want to get it right first time. Supplemented by examples and experience from real-life business owners and with clear action points, this is the essential guide to starting up a small business in mid-life and beyond.

Paperback

Founded After Forty by small business expert Glenda Shawley takes you step by step from discovering your 'why' and vision to launching your business and keeping the momentum going. It covers finding the right business model and business fundamentals as well as practical considerations such as making the time for running a business.

Part 2 looks at the mechanics of starting up: legal considerations, identifying the target market, choosing the right route to market, developing the brand, making a profit, and mapping the customer journey.

Part 3 gets you started with marketing, staffing, managing the business and the launch and beyond.

The guidance in the book is supplemented with examples from existing business owners who didn’t always get it right first time. Each chapter finished with topics to think about as well as key actions that need to be taken.

There is an accompanying downloadable workbook which builds on the key activities in the book to help you create your own unique business plan.

Glenda Shawley has spent more than 40 years in business, 24 of them running her own small business. Specialising in business start-ups and marketing, she has worked with a wide range of locally based businesses from acupuncture to web design. Her clients include home-based solopreneurs, established companies with several outlets and individuals with only the vaguest idea of the type of business they want to run. An accredited business adviser and qualified teacher of adults, Glenda specialises in practical advice and guidance developed over years of experience and study.

Table of contents

Introduction

How will this book help?

Being realistic

How to use this book

Part 1: Before you start

Chapter 1: What’s your ‘why’?

Why is it important to understand your ‘why’?

Getting to your why

You have a ‘why’ but do you have a business?

What would success look like to you?

Connecting to your vision of success

Start with the end in mind

Chapter 2: Choosing a business model that is right for you

Franchising

Network marketing

Buying an existing business

Starting from scratch

Is running a business right for you?

Deciding what’s right for you

Chapter 3: Some fundamentals of business

Basic principles

Business planning

What problems should you be prepared for?

Chapter 4: Finding time for your business

Avoiding bright shiny objects

Establishing priorities

Managing your priorities

Avoid procrastination and perfectionism

The Power Hour

Automating tasks

Getting help

Creating work-life balance

Part 2: Developing the plan

Chapter 5: Legal considerations

Your trading status

Registrations and licences

Protecting your assets

Health and safety

Employment law

Trading regulations

Managing data and communications

Taxation

Insurance

Chapter 6: Understanding your target market

What is a narrow and deep niche?

Profiling your ideal customer

Why will your ideal customer need you?

Time for some research

Conducting research

Avoiding common research mistakes

What competition do you have for customers?

Finding your position in the marketplace

Chapter 7: Your route to market

Taking on premises

Working from home

Running a mobile business

Flexible solutions

Online

Chapter 8: Developing your brand

What is a brand?

How are our perceptions of a brand formed?

Developing your brand

Pulling your brand together

Designing your brand’s identity

Finalising your branding

Applying your visual branding

Implementing your branding strategy

Staying on brand

Chapter 9: Making a profit

Demystifying the jargon

Establishing your costs

Setting your prices

Know your worth

Planning finance

Budgeting

Producing your cash flow forecast

Dealing with cash flow problems

Working out your break-even point

Raising finance

Taxation

Tracking progress

Chapter 10: Putting your customer at the heart of your business

Mapping the customer journey

Awareness

Interest

Evaluation

Purchase

Reflection and relationship building

Making the journey work for you

Part 3: Getting started

Chapter 11: Promoting your business

Understanding your prospect

Crafting your message

Choosing your voice

Testing

Choosing your tactics

Marketing regularly

Chapter 12: Getting help

What kind of help could be useful?

Outsourcing tasks

Are you the right person for the job?

Employing staff

Interns and work experience

Finding a sounding board

Chapter 13: Managing the business

Passwords

Organisation

Data protection

Your business environment

Managing business performance

Getting over your excuses!

Specialist advice

Chapter 14: Launching the business

How will you launch?

The soft launch

Deciding upon your guest list

Going for the big razzmatazz

Bring in the professionals

Invitations and publicity

Make it memorable

How will you promote your business at the event?

Dealing with the media

Maximising your return on investment

Chapter 15: What next?

Dealing with slow growth

Building on success

Tweaking the business plan

Good luck

Appendices

Meet the contributors

Amazon reviews:

'I wish I had had this book when I started my first business! It takes you from the first moment when you start contemplating setting up your own business, through to managing it successfully when it's up and running. It starts brilliantly by making you consider why you are setting up a business in the first place, covers all that you need to consider when choosing your business model (that's the bit I most needed), then takes you step by step through developing your plan, understanding your target market, developing your brand and on to managing and launching your business, with every aspect of your journey covered in depth on the way. There is an online workbook to download, which links to key points in the book.The author includes real-life case studies and great quotes and tips from small business owners. The book is is aimed at people starting a business later in life, but would be equally valuable to younger would-be business owners. And although I have now been running my current business successfully for three years, I have found loads of useful advice and action tips which will help me manage it even more effectively in the future.'

'I have found this book so useful as I set about launching my new business. It is written in a really informative but concise and simple way that makes it easy to read and to pick up and read in short chunks. Essential for the busy new business owner who doesn't have time to sit around reading for hours. The workbook that goes with it really makes you think properly about how you are approaching things. It's all easy to just 'fall into' ways of doing things and this book keeps you along the right lines. Highly recommended!'

'Fantastic guide to starting a business if you're over 40, or even under 40! Everything you could possibly need to know, thoroughly researched and the workbook that accompanies the book means that you can work through your plans slowly stage by stage. Loved it!'

'Superbly written book, full of fantastic advice for ANYONE running or thinking of starting their own business! Lots of examples, suggestions, best practices etc. Highly recommend this book!'

'One of those excellent books that has so much useful information in it. Highly recommend grabbing a copy and changing your life. Although 40 isn't old ;)'

"I wish I had had this book when I started my first business! It takes you from the first moment when you start contemplating setting up your own business, through to managing it successfully when it's up and running. It starts brilliantly by making you consider why you are setting up a business in the first place, covers all that you need to consider when choosing your business model (that's the bit I most needed), then takes you step by step through developing your plan, understanding your target market, developing your brand and on to managing and launching your business, with every aspect of your journey covered in depth on the way." Amazon reviewer

"Fantastic guide to starting a business if you're over 40, or even under 40! Everything you could possibly need to know, thoroughly researched and the workbook that accompanies the book means that you can work through your plans slowly stage by stage. Loved it!" Amazon reviewer